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ReadtheMarket - Supply and Demand with Price Action

  • #381
  • Feb 25, 2014 2:12pm Feb 25, 2014 2:12pm
Quoting Ifmyante
Fakeouts are extremely easy to predict. Most SD traders still look directly left, which is the big shortcoming of Supply/Demand trading. It's further left again we should be looking Say price is coming up to a supply. The only way we can be sure that supply will hold price down is if that supply has already visited the extreme set of orders in the flag limit to its left. If the supply fell short of that, we can anticipate a FO to those extreme orders. Extremely simple stuff
Thanks IF, so it's not a true engulf if it takes out a pivot high which is just a test of the original supply left (FL) Ah!!! Need to engulf whatever the pivot or swing is reacting to, so the original levels orders get hit and breached.
Thanks again.
Bye Bye FF
  • #382
  • Feb 25, 2014 2:26pm Feb 25, 2014 2:26pm
That's right Chica

we always look to what S or D are reactions to, rather than just S or D themselves.
  • #383
  • Feb 25, 2014 2:39pm Feb 25, 2014 2:39pm
Quoting Ifmyante
That's right Chica we always look to what S or D are reactions to, rather than just S or D themselves.
For clarification, are you saying an area that appears to be SD may just be a reaction to an area some way back, and therefore is best ignored (all though it may still cause a reaction) ?
  • #384
  • Feb 25, 2014 2:58pm Feb 25, 2014 2:58pm
Yes that's right JimN

I can't stress enough how important this article is http://readthemarket.com/index.php/education/markepedia/22-education1/492-price-reading

Once you fully understand the article, you fully understand how to read the market, and trading it becomes simple
  • #385
  • Feb 25, 2014 10:16pm Feb 25, 2014 10:16pm
Quoting Chica
{quote} Thanks IF, so it's not a true engulf if it takes out a pivot high which is just a test of the original supply left (FL) Ah!!! Need to engulf whatever the pivot or swing is reacting to, so the original levels orders get hit and breached. Thanks again.

I see you have an AHh moment. csn you post a pick of what this looks like?
  • #386
  • Feb 25, 2014 11:35pm Feb 25, 2014 11:35pm
I'm just going to drop my comment here given some of the other posters have had some of the same sentiment I did before (which I posted on your forums as you know). There have been a lot of scams and conmen on this site, and being skeptical is actually a defensive adaptation I think is critical to surviving the newbie nightmare. And maybe I am wrong - but as skeptical as I am, I've never seen a hole in any of the stuff taught. At this point I feel I was genuinely incorrect in some of the judgments made before, although posting that publicly is something I find difficult as I am always wary of being made a fool of by some fraud. I do owe an apology for that.

To those hardcore skeptics like myself, you don't need the course to read the free material, just use that. Ifmyante has said on his personal site that the content is all there, except that the course is more of a personal tutoring type thing. Stay away from the other S/D paid services you find around here though, most of them just teach the same basic stuff and want your money even for that.
  • #387
  • Feb 25, 2014 11:39pm Feb 25, 2014 11:39pm
Hey Dappa,

Hope your well mate.

Please see my crude image attached. This is my understanding of it. Explanation in image. Sorry at work and away from charts .

Maybe someone can explain it better, but thats how I understood it after IF's reply. I hope it is because it makes sense to me now....Than again I could be wrong.

Attached Image (click to enlarge)
Click to Enlarge Name: FF eg.png Size: 22 KB


Cheers,

C
Bye Bye FF
  • #388
  • Feb 26, 2014 3:59am Feb 26, 2014 3:59am
In a nutshell, Chica, that's the basis of it
  • #389
  • Feb 26, 2014 4:11am Feb 26, 2014 4:11am
Quoting Kanzler
I'm just going to drop my comment here given some of the other posters have had some of the same sentiment I did before (which I posted on your forums as you know). There have been a lot of scams and conmen on this site, and being skeptical is actually a defensive adaptation I think is critical to surviving the newbie nightmare. And maybe I am wrong - but as skeptical as I am, I've never seen a hole in any of the stuff taught. At this point I feel I was genuinely incorrect in some of the judgments made before, although posting that publicly is something...

Thanks so much Kanzler

I'm really touched you took the time to write that
  • #390
  • Feb 26, 2014 6:21am Feb 26, 2014 6:21am
Quoting Ifmyante
Did you not read what I wrote? For YOU, I'll trade full time for a while, so you can see what can be achieved by reading the market and actually spending time in it. I'm really looking forward to humiliating you, so do please tell me; what % return would you like to see so you'll apologise? And what % do I need to gain so I never have to hear from you again? It's a fair question, no? So please answer or do your trolling elsewhere
is this the joke? if u cannot show the explorer just say. stop the stupid excuses it is boring. u are only proving to everyone u cannot be real trader otherwise u would b happy to link the explorer in 1 minute.

goodbye and good luck with your marketing. it is clear u are only here to make the monies from fees. u should start the artist school u are very good at drawing the picturess.

sgp
  • #391
  • Feb 26, 2014 6:37am Feb 26, 2014 6:37am
Quoting sgpbufet
{quote} is this the joke? if u cannot show the explorer just say. stop the stupid excuses it is boring. u are only proving to everyone u cannot be real trader otherwise u would b happy to link the explorer in 1 minute. goodbye and good luck with your marketing. it is clear u are only here to make the monies from fees. u should start the artist school u are very good at drawing the picturess. sgp
sgpbufet.

Please stop talking like that. To prove himself, he don't need to show explorer. If you were brilliant you could find his accuracy in the posts of 1st page and all over the site he is teaching from. I did not only see his accuracy but also see his student's accuracy. 1 person can be a fake but many people can not be fake.
-milkeyway
  • #392
  • Feb 26, 2014 6:48am Feb 26, 2014 6:48am
Hello Ifmyante.
Please don't waste your time to prove yourself in front of idiots. It doesn't suite you because you are a Gentlemen person.
-milkeyway
  • #393
  • Feb 26, 2014 7:17am Feb 26, 2014 7:17am
Thanks K

Yes, the guy is a libellous coward, presumably ostracised in the real world for his social ineptitude and diminutive presence.

I wish, however, I was able to post in his thread. It's sad that FF will allow decent members to be libelled without a right to reply
  • #394
  • Feb 26, 2014 8:01am Feb 26, 2014 8:01am
Quoting sgpbufet
{quote} is this the joke? if u cannot show the explorer just say. stop the stupid excuses it is boring. u are only proving to everyone u cannot be real trader otherwise u would b happy to link the explorer in 1 minute. goodbye and good luck with your marketing. it is clear u are only here to make the monies from fees. u should start the artist school u are very good at drawing the picturess. sgp
you are such an idiot with an agenda......

where does it say in the FF rules that everyone must provide a trade explorer? or that you can't teach unless you trade? or that everyone must be willing to be berated by somebody like you ie: someone with an entire post history just asking for trade explorers and going on a rant about it?

you bring nothing to FF your ideal of cleaning up the commercial section is without credibility because of the way you have gone about it....

oh.. and of course I should mention the fact that you set up an additional username, where is the credibility in that? but don't worry that one is suspended too
  • #395
  • Feb 26, 2014 9:53am Feb 26, 2014 9:53am
Hey If man, pay no heed to the negative posts. I've seen guys who had less screen time than me, go from scratch to consistent profitability within the space of a few months. Everything is there on the forums (see the journal sections) on the site. They started asking questions, went back and searched through some examples and recorded their findings. They took the opportunity to grow. Then there are others who are consistently profitable, but don't update their journal every day. RTM generated quite a few profitable traders even before the school was online.

A few of If's students have shown some very good equity curves. Ben is just one of them. There are more. If RTM's method wasn't any good, would they be posting such great returns? Time and time again it has been mentioned that everything is available for free on the forums. You just need to find what you are looking for.

Disclaimer: I am a poster at RTM. However, I trade futures now, using spot FX for maintaining a stash of 1664. I am not profitable trading neither. So I doubt, anyone would be interested in my trade history.

Now, according to the guy who started it all, more charts and less chat. Quick, before the troll pass gets reinstated!!
  • #396
  • Feb 26, 2014 10:48am Feb 26, 2014 10:48am
Quoting Chica
Hey Dappa, Hope your well mate. Please see my crude image attached. This is my understanding of it. Explanation in image. Sorry at work and away from charts . Maybe someone can explain it better, but thats how I understood it after IF's reply. I hope it is because it makes sense to me now....Than again I could be wrong. {image} Cheers, C

Thanks man ,I'm doing ok. Still trying to find my way. Well I saw your post. Now lets say that price engulfed that extreme high of the orginal base/ flag what ever you wanna call it. That would be a signal to go long, being there is no more supply at that level?
  • #397
  • Feb 26, 2014 11:35am Feb 26, 2014 11:35am
Quoting Ifmyante
Thanks K Yes, the guy is a libellous coward, presumably ostracised in the real world for his social ineptitude and diminutive presence. I wish, however, I was able to post in his thread. It's sad that FF will allow decent members to be libelled without a right to reply
This individual needs "membership revoked" status. Anyway a chart RTM style
Attached Image (click to enlarge)
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  • #398
  • Feb 27, 2014 11:44am Feb 27, 2014 11:44am
I notice something that happens alot, price breaks a support line with a lot of momentum, then turns around and shoots right back up through that level it broke, slows down a little and then can keep going or turn around, WHat is aactually happening here?

Is that a stop hunt and best way to play I am thinking is to wait for price to reach that area again on a what would be percieved as a retrace. Play a buy stop and or a sell stop around the level.

Any opinions ?

Just to add to that, the large down momentum bar, breaking past the support lines, is that what you guys call an engulf?

And to trade an engulf means to take a trade in the direction of the engulf?

Third look what happens when price does engulf the level, it turns around and you get a small down move and then price shoots back up, it doesnt always shoot back down, it can shoot straight back up and never turn around. SO my question is this engulf concept is really just trading on a retrace of a broken level, thats how I am understanding this thus far.
Attached Image (click to enlarge)
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  • #399
  • Feb 27, 2014 12:15pm Feb 27, 2014 12:15pm
Quoting dappa
I notice something that happens alot, price breaks a support line with a lot of momentum, then turns around and shoots right back up through that level it broke, slows down a little and then can keep going or turn around, WHat is aactually happening here? Is that a stop hunt and best way to play I am thinking is to wait for price to reach that area again on a what would be percieved as a retrace. Play a buy stop and or a sell stop around the level. Any opinions ? Just to add to that, the large down momentum bar, breaking past the support lines,...
Hi Dappa,

This was my read on the situation. As far as I know, we don't really know if supply or demand is always going to hold, nor do we know if it is going to produce a small bounce, or again produce a price reversal. If If knows how to predict these then he knows more than I. As you can see, I was expecting a stronger bounce from the first zone and got stopped out on prices continued descent. Plenty of time for a BE+ some change play though. Aside from that, the zone below was just a supply zone turned demand area that can again produce a potential bounce point. As for knowing absolutely that it would rocket price vs a bounce... well, I just chalk that up to chance personally.
Attached Image (click to enlarge)
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  • #400
  • Feb 27, 2014 4:26pm Feb 27, 2014 4:26pm
Quoting Venice
{quote} Hi Dappa, This was my read on the situation. As far as I know, we don't really know if supply or demand is always going to hold, nor do we know if it is going to produce a small bounce, or again produce a price reversal. If If knows how to predict these then he knows more than I. As you can see, I was expecting a stronger bounce from the first zone and got stopped out on prices continued descent. Plenty of time for a BE+ some change play though. Aside from that, the zone below was just a supply zone turned demand area that can again produce...


How are you trading by chance and luck?

How does that bring consistency?
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